Did you know that there are now two options for eligible homeowners to access significant amounts of financial support to build secondary suites? Recent federal government annoucements speak to a program being rolled out for Spring of 2025 and the current provincial program is availabe as well. Here are the links below.
Provincial Program:
- BC Housing’s Secondary Suite Incentive Program: Homeowners who qualify will receive up to 50% of the cost of renovations, up to a maximum of $40,000. The program will provide a rebate in the form of a forgivable loan – a loan that does not need to be repaid if the homeowner follows the terms of the program.
- Learn more: Secondary Suite Incentive Program | BC Housing
Federal Program:
- Starting in early 2025, qualified homeowners may be able to access up to $80,000 for a low interest loan to finance a secondary suite (starting early 2025) at just 2% interest over 15yrs
- Learn more: 2024 Fall Economic Statement: Secondary Suites | Canada.ca
Angela Calla is an 19-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.
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